5-7 Best Street Devonport TAS 7310

Burgess Rawson in conjunction with Halliwell Property Agents are delighted to present the Reading Cinema Complex at 7-9 Best Steet, Devonport for sale via Investment Portfolio Auction 173

+ Fully leased freehold complex anchored by Reading Cinemas on a 20 year lease plus 10 year option
+ Long time 100% proven occupancy, with current 4.3 year WALE
+ 88% of rental income paid by Reading Cinemas and Federal Government
+ Federal Government: office for Mr Richard Colbeck, long time Liberal Senator for Tasmania
+ Reading: NASDAQ listed business, 61 locations across Australia, New Zealand and the USA
+ Includes Oriental Cafe, leading Asian restaurant on renewed 5 year lease
+ Annual CPI reviews across all leases
+ Tenants pay usual outgoings
+ Modern 3,034sqm multi level complex includes 4 cinemas (801 seats), plus retail
+ Important 35 on site car spaces, plus circa 100 car spaces on surrounding council land
+ 2,644sqm CBD site next to McDonalds and opposite new $55 million Waterfront precinct, including Novotel Hotel and Walkway with views across the Mersey and Port
+ Devonport: Tasmania's largest north-west coast city, the states busiest shipping port & major tourism link (Spirit of Tasmania's - Devonport Terminal), trade catchment 70,000 within 35km*
+ Rent Income $523,531pa* + GST

For Sale via Portfolio Auction Investment 173
10.30am (AEDT) on Wednesday, 11th December 2024
River Room, Crown Casino, Melbourne VIC

Burgess Rawson
Matthew Wright 0458 290 588
Raoul Holderhead 0413 860 304

Halliwell Property Agents
Alan Halliwel 0408 250 111

* Approximate